Insider Buying: Northpointe Bancshares (NYSE:NPB) CEO Purchases 48,312 Shares of Stock

Key Points

• CEO insider buying: Charles Alan Williams purchased 48,312 Northpointe Bancshares shares at $16.95 each, investing approximately $818,888. He also bought 30,000 shares the previous day, increasing his direct holdings to 2.39 million shares.
• Mixed financial performance: Northpointe reported quarterly EPS of $0.60, below the $0.68 analyst consensus, on $64.32 million in revenue. Analysts expect full-year EPS of $2.48.
• Stock and analyst outlook: NPB recently traded near $16.94, below its 50-day and 200-day moving averages, while analysts maintain a consensus “Hold” rating with an average price target of $20.62.

Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) CEO Charles Alan Williams bought 48,312 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were bought at an average price of $16.95 per share, for a total transaction of $818,888.40. Following the completion of the transaction, the chief executive officer directly owned 2,390,962 shares of the company's stock, valued at $40,526,805.90. This represents a 2.06% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Charles Alan Williams also recently made the following trade(s):

• On Tuesday, August 25th, Charles Alan Williams purchased 30,000 shares of Northpointe Bancshares stock. The shares were bought at an average cost of $16.95 per share, with a total value of $508,500.00.

Northpointe Bancshares Stock Performance

NPB traded down $0.01 during midday trading on Wednesday, reaching $16.94. The company had a trading volume of 164,909 shares, compared to its average volume of 231,352. The business has a 50-day moving average of $17.90 and a two-hundred day moving average of $17.73. The company has a quick ratio of 1.34, a current ratio of 1.40 and a debt-to-equity ratio of 2.66. Northpointe Bancshares, Inc. has a 1 year low of $15.42 and a 1 year high of $19.71. The company has a market cap of $585.79 million, a P/E ratio of 7.33 and a beta of 0.07.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.68 by ($0.08). The company had revenue of $64.32 million for the quarter. Northpointe Bancshares had a net margin of 17.72% and a return on equity of 14.99%. As a group, equities research analysts predict that Northpointe Bancshares, Inc. will post 2.48 earnings per share for the current fiscal year.

Northpointe Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Shareholders of record on Wednesday, July 15th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Wednesday, July 15th. Northpointe Bancshares's dividend payout ratio is presently 4.33%.

Institutional Investors Weigh In On Northpointe Bancshares

Several large investors have recently made changes to their positions in the company. Mendon Capital Advisors Corp grew its position in Northpointe Bancshares by 86.4% in the first quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company's stock worth $5,327,000 after acquiring an additional 143,010 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in Northpointe Bancshares during the fourth quarter valued at approximately $965,000. Hsbc Holdings PLC lifted its stake in shares of Northpointe Bancshares by 156.8% in the 4th quarter. Hsbc Holdings PLC now owns 65,852 shares of the company's stock valued at $1,102,000 after purchasing an additional 40,207 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Northpointe Bancshares during the 1st quarter valued at approximately $1,515,000. Finally, Sei Investments Co. increased its position in shares of Northpointe Bancshares by 165.2% during the 1st quarter. Sei Investments Co. now owns 50,117 shares of the company's stock valued at $865,000 after purchasing an additional 31,220 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have issued reports on NPB. Keefe, Bruyette & Woods cut their price target on Northpointe Bancshares from $22.00 to $21.00 and set an "outperform" rating for the company in a research note on Thursday, July 23rd. Weiss Ratings restated a "sell (d)" rating on shares of Northpointe Bancshares in a research report on Friday, May 29th. Piper Sandler upped their price objective on Northpointe Bancshares from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Thursday, July 2nd. Finally, Zacks Research cut Northpointe Bancshares from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Northpointe Bancshares has a consensus rating of "Hold" and an average target price of $20.62.

Northpointe Bancshares Company Profile

Northpointe Bancshares, Inc is the bank holding company for Northpointe Bank, an FDIC-insured community bank based in Michigan. The company offers a full range of commercial and consumer banking solutions, serving retail, small business and corporate clients through both a physical branch network and digital platforms.

Northpointe Bank’s product suite includes interest-bearing checking and savings accounts, money market and certificate of deposit offerings, as well as residential mortgage lending, home equity financing and unsecured consumer loans.

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